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Fraudulent Claims and Forgery – Has your signature been used without your knowledge?

By The Forensic Experts Group

Numerous cases of individuals abusing the Productivity and Innovation Credit (PIC) scheme have made the headlines in the past couple of months[1]. The scheme which expires after YA 2018, was first introduced in Budget 2010 to encourage businesses to invest in productivity and innovation. Unfortunately, the scheme has suffered its share of abuses by individuals and companies alike.

Recent news[2] published by the Inland Revenue Authority of Singapore (IRAS) cited the case of an individual who had obtained the signature of the company’s sole director and submitted a PIC cash payout application form. Investigations revealed that the company had not purchased the purported equipment and that a fraudulent claim had been made. For abusing the PIC scheme, both the company and the individual were convicted of giving false information and ordered to pay penalties of $56,398.20 and $112,796.40, respectively.

In another case[3], IRAS prosecuted a fraudulent claim involving falsified purchases and GST, amounting to S$178,000.

How can TFEG help you?

Do you suspect your that signature had been used without your knowledge to make fraudulent claims and payments, both externally and internally[4] within the company? Have you noticed that certain “official” documents do not look right or that you do not recall approving certain transactions?

Commercial frauds are not uncommon. Attempts to forge signatures usually occur in three ways: Freehand simulation, tracing and cut-and-paste. Our forensic handwriting experts will compare the signatures on the questioned documents with your specimens to determine the authorship of the signature. Apart from verifying signatures, our experts also have experience in examining documents for evidence such as erasures, alterations or other signs of tampering.

The consequences of fraud within your company can be wide-ranging; they may involve small sums of money you cannot afford to lose or even land your company in hot soup with the authorities. Let us allay your fears by verifying the authenticity of the signatures on your business documents.